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DuPont Warns of Earnings Shortfall

DuPont warned today that its second-quarter earnings would fall short of estimates, joining a list of chemical companies that have cautioned that profits would be hurt by a slowing economy.

Before one-time items, DuPont said earnings would be 35 to 45 cents a share, compared with the 90 cents a share it earned in the period a year earlier.

On average, analysts had been forecasting 53 cents a share, according to Thomson Financial /First Call.

Charles Holliday Jr., DuPont's chairman and chief executive, cited the global economic slowdown. ''Demand is correspondingly weak across all markets, and our customers have continued to draw down existing inventories or delay purchasing until conditions improve,'' Mr. Holliday said, noting the company has already taken steps to cut costs through layoffs and lower capital expenditures.

On Friday, the Dow Chemical Company lowered its earnings for the second quarter. Rhodia S.A. of France and BASF A.G. and Bayer A.G. of Germany have also cautioned investors that their profits would not meet expectations

The announcement was made after the markets closed. DuPont shares fell 12 cents, to $48.12.